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2021 MKD to ARS Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2021
During 2021, the MKD to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 1.8899. Conversely, the yearly low was recorded on January 3, dropping to 1.6714.
This high-to-low spread represents a total annual volatility of 0.2185 ARS. From a start-to-finish perspective, comparing the January average rate of 1.6963 to the December average rate of 1.8690, the exchange rate registered a net change of 10.18% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2021 high of 1.8899 was up 12.52% compared to the 2020 peak of 1.6796, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 MKD based on timing:
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MKD to ARS Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: JanâJun) was 1.7847, compared to 1.8625 in the second half (H2: JulâDec). This shows that the rate was stronger in the second half (JulâDec) by a margin of 0.0777 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2021 was April, with a trading range of 0.1005 ARS (High: 1.8426 / Low: 1.7422). On the other end, March was the most stable month, with a tight range of 0.0330 ARS (High: 1.7731 / Low: 1.7401).
Growth Streaks & Declines
TrendsBetween January and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0151 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2021: 1.8690) against the same month in 2020 (average: 1.6309), the exchange rate shifted by +0.2381 (+14.60%).
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| Month | High | Low | Average |
|---|---|---|---|
| January | 1.7169 | 1.6714 | 1.6963 |
| February | 1.7763 | 1.7070 | 1.7403 |
| March | 1.7731 | 1.7401 | 1.7572 |
| April | 1.8426 | 1.7422 | 1.7987 |
| May | 1.8775 | 1.8256 | 1.8542 |
| June | 1.8810 | 1.8430 | 1.8618 |
| July | 1.8704 | 1.8364 | 1.8467 |
| August | 1.8761 | 1.8425 | 1.8556 |
| September | 1.8899 | 1.8560 | 1.8787 |
| October | 1.8895 | 1.8522 | 1.8676 |
| November | 1.8828 | 1.8286 | 1.8573 |
| December | 1.8899 | 1.8531 | 1.8690 |